New Issue: Zaio secures C$1.32 million through private placement of equity units

By Devika Patel

Knoxville, Tenn., Oct. 30 - Zaio Corp. said it raised C$1.1 million in the second tranche of a C$1.32 million non-brokered private placement of units. The deal priced for C$1.5 million Sept. 15, and the company took in C$226,800 in the first tranche on Oct. 6.

The company sold a total of 8,824,499 units at C$0.15 apiece. It sold 1,512,000 units in the first tranche and 7,312,499 units in this one. Each unit consists of one common share and one half-share warrant. Each whole warrant is exercisable at C$0.25 for one year.

Proceeds will be used for working capital.

Based in Calgary, Alta., Zaio maintains a database of property information.

Issuer:	Zaio Corp.
Issue:	Units of one common share and one half-share warrant
Amount:	C$1,323,675
Units:	8,824,499
Price:	C$0.15
Warrants:	One half-share warrant per unit
Warrant expiration:	One year
Warrant strike price:	C$0.25
Agents:	Non-brokered
Pricing date:	Sept. 15
Settlement date:	Oct. 6 (for C$226,800), Oct. 30 (for C$1,096,875)
Stock symbol:	TSX Venture: ZAO
Stock price:	C$0.19 at close Sept. 15
Market capitalization:	C$9.78 million

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